This leasing arm of RBS has proved difficult for assessment with any consistency. Lack of consistency in pursuing personal guarantees can work in your favour. However, along with other leasing companies, many personal guarantees often don’t stand up to scrutiny, are integrated into finance agreements and aren’t clear enough as to the parties involved.
For more information, have a look at our website at www.personal-guarantee.co.uk
As noted in the last blog with regard to HBOS, the lending policy of HBOS was very aggressive. It’s symptomatic of an institution that is going hell for leather for market shares by sacrificing some first principles of lending.
There has been particular comment in the press about the lending practices of the Reading business centre of HBOS, where it is alleged that customers were encouraged to take up facilities they did not need or indeed, under normal scrutiny, could not justifiably afford. This all adds grist to the mill when challenging the validity of a personal guarantee or the funding that it relates to.
For more information, have a look at our website at www.personal-guarantee.co.uk
Avoid email communication at all costs; imagine you are a ‘tick the box’ jobs-worth at one of the banks central departments. Five emails in one day can be the equivalent of ticking three months worth of correspondence by snail mail.
It can be forwarded off their list and straight to their solicitor to deal with.
Emails are also notoriously unreliable; (not that normal post is much better) with today’s virus scanners and ability to be lost in a myriad of emails, there is no guarantee of delivery. Fax and guaranteed delivery posts are your safest form of communication.
For more information, have a look at our website at www.personal-guarantee.co.uk
Lloyds do struggle with personal guarantees. For example, we have seen them use an "abbreviated" form of personal guarantee; you would have to wonder in what circumstances it would be appropriate to not use the full version.
Lloyds used to have the reputation of referring to solicitors more, however have not been as immediate more recently; but as more personal guarantees are being collected, the pressure is on, so there may be change.
For more information, have a look at our website at www.personal-guarantee.co.uk
